Building A Lucrative Career In Real Estate Project Management


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Project managers are in demand across every sector, and real estate is an industry where their input is especially highly valued.

It’s possible to make a rewarding and fulfilling career in real estate project management, but there are also challenges to overcome and complexities to take onboard. Knowing what to expect is the first step to sustainable success in this field.

A good educational foundation is useful

You don’t necessarily need a particular degree to your name in order to become a project manager in real estate or any other context. However, it will be easier to get your foot in the door if your educational background is at least partly aligned with this industry.

From civil engineering and architecture to finance and urban planning, there are all sorts of routes which will lead you towards a thriving career here.

You could even cut out the middleman and pursue a degree in project management, because of course this will give you a more focused set of skills and the right experience for roles of this kind.

A mastery of data analytics and decision-making is essential

Being able to deal with data and unearth insights from it to ensure that decisions you make as a real estate project manager are informed and evidenced-based will give you a head start.

In the past, this was one of the main hurdles for newcomers, because much of the number-crunching had to be done manually, and even then it was tedious and time-consuming to extract insights and choose the right path.

Today, there are various innovations being pursued and pushed at Northspyre and a range of other real estate development startups which are taking the sting out of this side of the job.

For example, artificial intelligence-powered analytics platforms are able to blend historic data with current info from ongoing projects so that decision-making is handled efficiently and accurately, while costs are kept down and team members are not waylaid with intensive tasks.

That’s not to say project managers can take an entirely hands-off approach to leveraging data. Rather that contemporary tools are here to help, and will become more influential as time passes.

A knack for communication is something you can’t automate or outsource

The highest earning and most in-demand real estate project management pros are those who are capable of facilitating communication between all the parties and stakeholders in each and every scheme they’re involved with.

In this context it’s not just about greasing the wheels of collaboration between professionals from different spheres, but also handling things like community outreach so that projects are not derailed because of complaints and criticisms from people who are peripherally impacted by the work being done.

An ability to manage time is crucial

How you use your time as a project manager in real estate is just part of the picture. With many projects lasting months or even years, being a specialist in time management is important at both a micro and macro level.

Adaptability also comes into play here, because things can change rapidly, leaving schedules out of whack.

Effective real estate project managers cannot crack under pressure, or allow deadlines to slip by unmet. To thrive, you will have to make the most of your time, and impart the same skills to others in the team.

Final thoughts

Building a career in real estate project management which is both lucrative and satisfying takes many years, and you’ll have to start small and take your time, rather than attempting to jump in at the deep end. The journey is long, but the destination is worth it.

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